STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Northern District of Texas on
behalf of purchasers of Tenet Healthcare Corporation (NYSE: THC) (“Tenet
Healthcare” or the “Company”) securities during the period between
February 26, 2013 and September 30, 2016, inclusive (the “Class
Period”). Investors who wish to become proactively involved in the
litigation have until December 6, 2016 to seek appointment as lead
plaintiff.
If you wish to choose counsel to represent you and the Class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the Class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Tenet Healthcare securities
during the Class Period. Members of the Class will be represented by the
lead plaintiff and counsel chosen by the lead plaintiff. No class has
yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that certain of Tenet Healthcare’s hospitals had
paid kickbacks for obstetric referrals, these kickbacks were in
violation of federal law, and these kickbacks subjected Tenet Healthcare
to the risk of heightened regulatory scrutiny, as well as substantial
fines.
According to the complaint, following an August 1, 2016 filing
announcing that the Company had reached an agreement in principle with
federal and state authorities pursuant to which the Company would pay
nearly $514 million to settle allegations that four Tenet Healthcare
hospitals in Georgia and South Carolina paid kickbacks for obstetric
referral, and an October 3, 2016 announcement that the Company had
finalized the agreement in principle announced on August 1, 2016, the
value of Tenet Healthcare shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in
Tenet Healthcare securities purchased on or after February 26, 2013 and
held through the revelation of negative information during and/or at the
end of the Class Period and would like to learn more about this lawsuit
and your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616. Brower Pivenalso encourages
anyone with information regarding the Company’s conduct during the
period in question to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161020006250/en/
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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